2 ms·
Then to shame with all of the other actors in the industry. It is not unreasonable to expect your financial counterparties to subject themselves to audit. There
by encoderer 13y ago
Then to shame with all of the other actors in the industry. It is not unreasonable to expect your financial counterparties to subject themselves to audit. There are a lot of heavy bats in the Bitcoin community. If MtGox wouldn't consent to the same level of auditing any normal publicly traded US company is subject to (to say nothing of financial institution) then say so publicly and refuse to do business.
The amount of lost BTC is in the hundreds of millions of dollars. I personally cannot believe it possible that this is not an insider job. I admit, I've traded on MtGox (speculation in 2011) but things were different back then and I never had my own wallet. My assumption is that it would be trivial to run DAILY reporting that verifies the amount of BTC you think you have on deposit with what you actually do. This is banking 101 and the ONLY way to ensure there is not a bug in your transaction handling.
You are right brudgers that you cannot necessarily expect somebody to police themselves. But Coinbase. Winklevosses. Etc. I'm looking at you. These guys are CLEARLY crooks and have been all along and you let yourselves get snowed.